51 EV Startups That Are Helping Keep The Earth Healthy And Clean

With sustainability becoming 1 of the apical priorities for countries and businesses alike, the communicative astir expanding the usage of electrical vehicles (EVs) has taken centre signifier successful the past fewer years. Though the electrification of vehicles started a spot precocious successful India compared to immoderate European countries, the US, China, and Japan, the country’s EV adoption has grown exponentially connected the backmost of much startups joining the conception and authorities policies. 

Many Indian EV startups specified arsenic Ather Energy, Altigreen, BluSmart, and Exponent Energy person present travel up with sustainable solutions for mobility. The Indian EV marketplace houses assorted tiny arsenic good arsenic ample EV startups and is estimated to scope $15,397 Bn by 2027.

Indian EV startups connection services specified arsenic sustainable mobility, vigor infrastructure, commercialized mobility and artillery absorption system, among others, to the wide masses and enterprises. Besides, they are besides helping trim c emissions and offering a cheaper alternate to fossil fuels.

Let’s instrumentality a look astatine immoderate of the Indian startups that are helping support the world steadfast and greenish done their exertion and products. The database beneath is not meant to beryllium a ranking of immoderate kind. The Indian EV brands person been listed successful alphabetical order.

Startups In The EV Segment 

1. 3EV Industries

• Founded In: 2019
• Founders: Peter Hartmut Voelkner, Suman K. Mishra
• Funding Raised To Date: $2 Mn
• Investors: Credence Family Office
• Headquarters: Bengaluru

3EV Industries was founded successful relation betwixt RUGGED Solar Products Pvt Ltd and ReBatt Limited successful 2019. It offers last-mile hyper-local connectivity to customers crossed India. 

In November 2021, 3EV Industries raised $2 Mn successful its effect backing circular from respective household offices including Credence Family Office. The startup primitively aligns with the Indian government’s ‘Make successful India’ ambitions.

It manufactures vehicles crossed cargo and rider segments, on with kits to person accepted vehicles to electric. It aims to usage renewable vigor and off-grid powerfulness systems to optimise last-mile logistics. 

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2. Altigreen Propulsion Labs

• Founded In: 2013
• Founders: Amitabh Saran, Shalendra Gupta 
• Funding Raised To Date: $40 Mn 
• Investors: Reliance New Energy Limited, Xponentia Capital, Accurant International and Momentum Venture Capital
• Headquarters: Bengaluru

Altigreen offers last-mile proscription done two-wheeler, three-wheeler and four-wheeler EVs for commercialized use.

In February 2022, Altigreen raised INR 300 Cr ($40 Mn) successful a Series A backing circular led by Sixth Sense Ventures. The circular saw information from Reliance New Energy Limited (RNEL), Xponentia Capital, Accurant International and Momentum Venture Capital.

The startup has a beingness successful 60 countries, on with 26 planetary patents. It had a turnover of INR 1.04  Cr successful FY21 against INR 61.62 lakh successful FY20.

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3. AMO Mobility

• Founded In: 2018
• Founders: Sushant Kumar
• Funding Raised To Date: Bootstrapped
• Investors: NA
• Headquarters: Noida

AMO Mobility is an MSME-registered and ICAT-certified electrical mobility startup. It is besides certified by the Department for Promotion of Industry and Internal Trade (DPIIT). 

The archetypal instrumentality shaper follows a concern exemplary for some B2C and B2B customers. Besides selling its electrical two-wheelers done dealerships, AMO besides has partnerships with OEMs, sub-dealerships, transmission partners, and B2C partners to administer its products. 

Some of its astir noteworthy B2B partnerships see JustDial, Indiamart, the ecommerce level of Paytm, and BikeDekho.

Recently, AMO Mobility signed a pact with EV-as-a -service platform, Trigo Electric, to supply its precocious electrical mobility solutions to the company.

AMO Mobility has a scope of escooter models, including Jaunty, Feisty, and Inspirer. Its lawsuit basal comprises corporates, ecommerce players, and CSR segments.

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4. Ather Energy

• Founded In: 2013
• Founders: Tarun Mehta, Swapnil Jain
• Funding Raised To Date: $225 Mn
• Investors: Hero Motocorp, Department of Science and Technology, IIT Madras, Binny Bansal, Sachin Bansal, Tiger Global, NIIF Limited
• Headquarters: Bengaluru

Ather Energy offers sustainable mobility and vigor infrastructure solutions. It manufactures two-wheeler electrical vehicles, 450X and 450 Plus, that are sold connected its website and offline retail stores. 

In May, Ather secured $128 Mn successful its Series E backing circular from sovereign money NIIF Limited and existing capitalist Hero MotoCorp. With this round, it besides closed its Series E round.

The startup claims to person installed much than 1,000 charging stations crossed 80 cities successful India. It aims to person astir 2,500+ charging stations by the extremity of 2023.

It was earlier reported that the EV startup had acceptable up its 2nd manufacturing works successful Hosur to conscionable the request for electrical scooters. In October 2021, its yearly gross complaint (ARR) roseate by 12X to $100 Mn.

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5. Baaz Bikes

• Founded In: 2019
• Founders: Karan Singla, Abhijeet Saxena, Shubham Srivastava 
• Funding Raised To Date: $2 Mn
• Investors: Kalaari Capital, AdvantEdge, 9Unicorns, Sumant Sinha
• Headquarters: New Delhi

Baaz Bikes, a subsidiary of ElecTorq Technologies, offers micro-mobility solutions to gig workers. It helps gig workers gain wealth by utilizing its electrical scooters for deliveries for companies specified arsenic Zomato, Amazon and Grofers.

Baaz Bikes raised $2 Mn successful Pre-Series A backing circular from Kalaari Capital on with the information of AdvantEdge, 9Unicorns and Renew Power’s Sumant Sinha.

The EV startup’s scooters tin screen a region of 60 km connected a azygous charge. It besides has built artillery swapping infrastructure successful India. It claims that its swapping infrastructure is unrecorded successful 2 zones successful Delhi.

As per its website, its tech stack includes Baaz, Baaz Swap, Baazigar Platform and Baaz VU.

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6. Battery Smart

• Founded In: 2019
• Founders: Pulkit Khurana and Siddharth Sikka
• Funding Raised To Date: $43 Mn 
• Investors: Blume Ventures, Orios Ventures, Green Frontier Capital, TradeCred, Baring Private Equity India, Srinivas Anumolu, K Ganesh, Niraj Singh, Amit Bhasin  
• Headquarters: New Delhi

Battery Smart allows customers to swap their EV batteries astatine its stations, called Swap Stations. It presently offers its services to e-rickshaw owners. 

Battery Smart claims to run much than 100 Swap Stations crossed Delhi-NCR and says it has completed much than 3 lakh artillery swaps. Currently, it has 1200 progressive vehicles connected its level and makes 5,000 swaps connected a regular basis.

In November 2021, Battery Smart raised $7 Mn successful a Pre-Series A backing circular led by Blume Ventures and Orios Ventures. The circular saw information from investors including Green Frontier Capital, TradeCred, Baring Private Equity India, and angel investors specified arsenic Bluestone’s Srinivas Anumolu, and GrowthStory.in’s K Ganesh, Spinny’s Niraj Singh and GoMechanic’s Amit Bhasin.

Prior to this, Battery Smart raised an undisclosed magnitude of concern successful a effect backing circular from Orios Venture Partners successful February 2021. The startup has further raised $25 Mn successful its Series A round successful June 2022 led by Tiger Global, Blume Ventures and Orios Ventures and 2 indebtedness rounds from Stride Ventures and BlackSoil.

Battery Smart claims to person completed 10 Mn swaps, acceptable up 550+ unrecorded swap stations crossed 18 cities and works with 18,500 vehicles.

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7. BGauss

• Founded In: 2020
• Founders: Hemant Kabra
• Funding Raised To Date: $7 Mn
• Investors: Darshan Patel
• Headquarters:  Mumbai

BGauss, which is promoted by RR Global, offers sustainable mobility solutions. The startup manufactures 2 EVs – BGauss B8 and BGauss A2 – which are sold connected its website arsenic good arsenic successful offline stores. It is presently expanding its merchandise portfolio by launching 2 caller EV scooters successful 2022. 

According to an Inc42 report, BGauss’ caller EV scooter D15 volition beryllium launched successful May 2022, portion the different scooter volition beryllium launched aboriginal this year. The startup claims that these scooters volition beryllium 100% ‘Made successful India’ astatine its accumulation installation located successful Chakan adjacent Pune.

Recently, the EV startup got $7 Mn successful backing from Vini Cosmetics’ Darshan Patel to grow retail and manufacturing capableness successful India, execute R&D and make in-house products crossed assorted EV components. It claims to person 100 trader networks crossed India and is readying to participate Tier 2 and Tier 3 cities by the extremity of 2022. It is further looking to standard up operations and absorption connected the export market.

As per its website, it has a beingness successful much than 85 countries. It besides has 13 manufacturing facilities and implicit 25K retail stores. ______________________________________________________________________________________________

8. BluSmart 

• Founded In: 2019
• Founders: Anmol Singh Jaggi, Punit K Goyal
• Funding Raised To Date: $67 Mn
• Investors: Stride Ventures, Alteria Capital, BlackSoil, UCIC, BP Ventures, Green Frontier Capital, Mayfield India Fund, 9Unicorns, Suvan Partners,  Mumbai Angels, Inflection Point Ventures, Venture Catalysts
• Headquarters: Gurugram

BluSmart offers electrical ride-hailing mobility services done its mobile-based app. It chiefly provides sustainable mobility solutions to municipality customers.

In May, BluSmart secured $25 Mn done equity and indebtedness financing successful its Series A backing round. Investors who participated successful the circular see BP Ventures, Green Frontier Capital, Stride Ventures, Alteria Capital, BlackSoil and UCIC.

Recently, it started intercity EV services from Delhi NCR to Jaipur and Chandigarh. It has besides scaled EV services astatine Delhi IGI Airport. It is presently looking to grow its EV charging hubs crossed Delhi NCR and grow its fleet to implicit 5,000. 

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9. BOLT

• Founded: 2017
• Founders: Jyotiranjan Harichandan and Mohit Yadav
• Funding Raised To Date: $4 Mn 
• Investors: ITI Growth Opportunities Fund, SUN Mobility, Union Square Ventures, Prime Venture Partners
• Headquarters: Bengaluru 

BOLT, antecedently known arsenic REVOS, is an AI-based IoT level that helps radical run EVs. It fundamentally tracks and monitors centrifugal controllers arsenic good arsenic batteries connected the platform. 

In September 2021, BOLT raised $4 Mn successful its Series A round led by Union Square Ventures (USV) and Prime Venture Partners. It claims to person sold astir 1,000 devices, including EVs and chargers successful 30 archetypal instrumentality manufacturers (OEMs), crossed India, China, Nepal, Egypt and Vietnam to date. The startup claims it has installed 10,000 EV charging stations successful India successful the past six months. 

BOLT is reportedly aiming to deploy 100K charging stations successful the coming six months to conscionable the request successful cities similar Jaipur, Ahmedabad, Lucknow, Nagpur, Nashik, Chandigarh, Surat, and Bhubaneswar, among others.

Recently, BOLT besides partnered with the Delhi Capitals cricket squad for the IPL.

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10. Cell Propulsion

• Founded In: 2017
• Founders: Nakul Kukar, Paras Kaushal, Supratim Naskar
• Funding Raised To Date: $4 Mn
• Investors: growX ventures, Micelio, Endiya Partners, CIIE.CO, Sangam Ventures
• Headquarters: Bengaluru

Cell Propulsion offers sustainable mobility solutions and charging infrastructure. The startup develops high-voltage powertrains exertion for commercialized conveyance applications. Besides this, it manufactures electrical commercialized vehicles – Oryx Electric and Beluga Electric. While Oryx Electric is disposable for sale, Beluga Electric has not been officially launched yet by the startup. 

As per its website, GrowX Ventures, Endiya, Micelio and CIIE.CO and Sangam Ventures are among its investors. It has covered implicit 200K emission-free region and onboarded 5 fleets to date. It is presently managing implicit 10 fast-charging stations.

In 2021, it reportedly secured $2 Mn of backing from a cohort of backstage equity investors including Endiya Partners, GrowX Ventures, Huddle Accelerator and Micelio. Prior to this, it raised $1 Mn successful a pre-Series A funding circular successful September 2020. 

In 2019, it was besides a portion of Huddle and growX Ventures’ EV accelerator program.

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11. CHARGE+ZONE

• Founded In: 2018
• Founders: Kartikey Hariyani and Pavan Bakeri
• Funding Raised To Date: $17 Mn
• Investors: Venture Catalysts, Mumbai Angels, Keiretsu Forum, Ramakrishnan Family Office
• Headquarters: Gujarat

CHARGE+ZONE offers an OEM charging web done its app-based charging stations. Its app provides an array of services to EV drivers, specified arsenic uncovering charging points, and booking them successful advance. 

In December 2021, CHARGE+ZONE raised $10 Mn successful a bridge backing round led by Venture Catalysts. Prior to this, it raised $4 Mn successful the aforesaid round. CHARGE+ZONE presently aims to rise different $50 Mn successful a Series A backing circular successful 2022. 

In November 2021, CHARGE+ZONE raised $3 Mn successful a Pre-Series backing A circular led by Venture Catalysts. The circular saw information from Mumbai Angels, Keiretsu Forum and Ramakrishnan Family Office. Earlier successful May 2021, it raised an undisclosed magnitude from Mumbai Angels. 

CHARGE+ZONE is reported to person started the organisation of AC-Type2 EV charging networks and intercity accelerated DC charging networks for 1,500 caller points implicit the adjacent 150 days.

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12. Chargeup

• Founded In: 2019
• Founders: Varun Goenka and Ankur Madan
• Funding Raised To Date: $2.5 Mn
• Investors:  Capital A, Anicut Capital, MapmyIndia,  Sameer Mehta, Aman Gupta, Tiger Shroff, Shraddha Kapoor  
• Headquarters: New Delhi

Chargeup offers artillery swapping services for three-wheeler EVs successful India. 

In February 2022, Chargeup reportedly raised $2.5 Mn successful Pre-Series A backing circular led by Capital A and Anicut Capita. 

The circular besides saw information from angel investors including boAt’s Sameer Mehta, Aman Gupta, Tiger Shroff and Shraddha Kapoor. The startup claims to person expanded to 100 stations and onboarded 800 drivers connected its platform. It further says that it has 100 dealers moving with the platform.

As per its website, Chargeup has an AI and ML-based level that provides services specified arsenic subscription-based usage, delivers 5,000 MwHr, forecasts request hotspots, predicts vigor demand, and operates 10K charging stations. The startup claims to person 800 satisfied users and 100 dealers associated with it. It besides aims to powerfulness 1 Mn EVs by 2027.

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13. Corrit Electric

• Founded In: 2020
• Founders: Mayur Misra
• Funding Raised To Date: $9 Mn 
• Investors: SphitiCap
• Headquarters: Noida

Corrit Electric offers sustainable mobility solutions to consumers and B2B customers. It sells 3 electrical bikes – Hover 1.0, Hover 2.0 and Hover 2.0+. The institution has precocious launched an electrical bike, Transit, for B2B deliveries. It has a apical velocity of 70 kmph and payload capableness of 200 Kg. 

In November 2022, it secured $9 Mn successful backing from task superior money SphitiCap to ramp up its accumulation installation and manufacture electrical bikes to resoluteness issues related to last-mile connectivity.

Earlier, it had shared plans to physique 1.5 Lakh electrical bikes successful the adjacent 3 years.

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14. ElectricPe

• Founded In: 2021
• Founders: Avinash Sharma, Raghav Rohila
• Funding Raised To Date: $8 Mn
• Investors: Blume Ventures, Micelio Fund, Anshuman Bapna, Anupam Mittal, Arjun Ravi Sheth, Ashish Goel, Bhuvan Gupta, Green Frontier Capital, NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels
• Headquarters: Bengaluru

ElectricPe offers charging infrastructure to customers. Through its app, EV owners tin find charging stations adjacent them.

In November 2021, ElectricPe raised $3 Mn successful a effect backing circular led by Blume Ventures and Micelio Fund. The circular saw information from Terra.do’s Anshuman Bapna, Shaadi.com’s Anupam Mittal, Anchorage Capital’s Arjun Ravi Sheth, Urban Ladder’s Ashish Goel, and OfBusiness’ Bhuvan Gupta, among others.

Recently, Hero Electric partnered with ElectricPe to acceptable up charging points pan-India for its customers. The charging infrastructure would beryllium built successful residential complexes, offices, malls, and different establishments. The concern aims to fortify the charging web and enactment EV adoption crossed India.

Prior to this, NoBroker had besides partnered with ElectricPe to acceptable up 1 Lakh electrical charging stations successful residential communities crossed India successful 2022.

In January 2022, ElectricPe raised $5 Mn successful its pre-series A circular led by Green Frontier Capital, Blume Ventures and Micelio Fund, with information from NB Ventures, Anchorage Capital Partners, Supermorpheus and Climate Angels.

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15. Emflux Motors 

• Founded In: 2016
• Founders: Ankit Khatry, Varun Mittal, Vinay Raj Somashekar
• Funding Raised To Date: $648K
• Investors: Meher Roy, Nikhil Arora, Meet Kanodia, Krit Sankalp, Nitish Singh and Risabh Gupta
• Headquarters: Bengaluru 

Emflux Motors offers sustainable mobility solutions and different tech solutions for EVs. It sells an physics motorcycle Emflux One that has a maximum velocity of 200 kmph and tin screen up to 200 km connected a azygous charge. Besides this, it sells exertion stack specified arsenic artillery absorption system, motors, centrifugal controller, charger circuit, EVSE, maestro controller, and artillery pack. 

In 2017, Emflux Motors raised $648K successful an angel backing round. The circular saw information from Meher Roy, Nikhil Arora, Meet Kanodia, Krit Sankalp, Jugnoo’s Nitish Singh, and Risabh Gupta.

The EV startup aims to make 10 Mn two-wheeler EVs successful India by 2027. It chiefly focuses connected gathering marque and loyalty by creating high-performance electrical vehicles.  It besides plans to physique an ecosystem of spouse OEMs and go their tech and constituent supplier. 

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16. EMO Energy

• Founded In: 2022
• Founders: Sheetanshu Tyagi and Rahul Patel
• Funding Raised To Date: $1.5 Mn
• Investors: Transition VC, Gruhas
• Headquarters: Bengaluru

With its integrated tech stack for two- and three-wheeler EVs and heavy-duty vehicles, deeptech startup EMO Energy is addressing 2 challenges adversely affecting EV adoption successful India – information and charging efficiency. 

The startup calls its exertion level ZEN, which comes with antithetic applications specified arsenic ZEN PAC (swappable artillery packs for two- and three-wheelers), ZEN Ctrl. (battery absorption strategy and connected software), ZEN Rig (battery packs for heavy-duty vehicles), and ZEN Wall (fully integrated artillery inverter strategy for residential and airy commercialized use).

EMO Energy has successfully conducted aviator programmes with astir 10 electrical conveyance (EV) companies successful the country, deploying astir 100 batteries to date. The startup is rapidly expanding its web of partnerships. While astir of its offerings are inactive successful the aviator phase, EMO Energy has already started generating gross by selling its artillery packs, ranging from 2 kWh to 3 kWh, for two- and three-wheelers.

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17. EMotorad

• Founded In: 2020
• Founders: Rajib Gangopadhyay, Kunal Gupta, Aditya Oza, Sumedh Battewar
• Funding Raised To Date: $5.9 Mn
• Investor: Basant Lohia from TaraSafe, Green Frontier Capital (GFC), LetsVenture, Ivy Growth associates
• Headquarters: Pune
• EMotorad sells electrical cycles for regular commuting and casual rides. The startup uses section sourcing and manufacturing facilities successful India to physique electrical cycles.

In October, the Pune-based startup secured $2.9 Mn (INR 24 Cr) successful its Pre-Series A backing round. During that time, it asserted that it sold much than 16K electrical cycles successful India since its inception

It raised $3 Mn successful its effect backing circular successful precocious 2021. Its headdress array includes Green Frontier Capital (GFC), LetsVenture, Ivy Growth associates and Basant Lohia from TaraSafe.

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18. ETrio 

• Founded In: 2016
• Founders: Sathya Yalamanchili, Deepak M V 
• Funding Raised To Date: $3 Mn
• Investor: Janardhan Rao
• Headquarters: Hyderabad

Etrio offers commercialized and non-commercial energy mobility solutions. Its merchandise portfolio includes electrical kits, retrofitted electrical light commercialized vehicles (eLCVs), a three-wheeler EV named Touro, and 2 bicycles – Ashva and iSwitch. eLCVs person been launched to alteration and electrify the logistics segment, portion bicycles were launched to conscionable the demands of cargo and idiosyncratic segments. 

In 2020, ETrio raised $3 Mn successful a Series A backing circular led by Triumph Global’s Janardhan Rao. The circular saw information from a cohort of Singapore-based HNIs. 

As per its website, ETrio has partnered with assorted companies including Amazon, BigBasket, Flipkart, DIAGEO, Lightning Logistics, Amplus Solar, and ZYPP Electric. 

It has besides received certifications from assorted authorities bodies specified arsenic ARAI, the Ministry of Road Transport and Highways, and the Ministry of Micro, Small and Medium Enterprises, among others. 

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19. Euler Motors

• Founded In: 2018
• Founders:  Saurav Kumar
• Funding Raised To Date:  $21.8 Mn 
• Investors: Blume Venture, Emergent Ventures, Andrew Lee, Inventus India, Jetty Ventures, Srinivas Anumolu, K Ganesh, Sujeet Kumar, QRG Investments and Holdings, ADB Ventures,
• Headquarters: New Delhi 

Euler Motors offers commercialized electrical mobility solutions done three-wheeler EVs, vigor infrastructure, app and web-based bundle solutions. Its three-wheeler EV, Euler HiLoad, has the capableness to clasp up to 688 Kg. The institution claims it tin get charged successful 15 minutes and screen a region of 151 Km connected a azygous charge.

In the charging infra, the EV startup offers 3 types of chargers – Flash2, onboard charger, and Charge connected Wheels. In the bundle segment, its app provides an array of services specified arsenic real-time GPS tracking, learning analytics, geo-fencing, and artillery temperature, among others. 

In April 2022, Euler Motors raised astir $5 Mn successful a follow-on Series B circular from Moglix. Prior to that, it raised $10 Mn arsenic a portion of a Series B backing round led by QRG Holdings. The circular saw information from ADB Ventures, Inventus Capital, and Blume Ventures. 

It claims to person supplied much than 250 three-wheeler EVs to assorted companies including Ecom Express, BigBasket and Udaan.

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20. EVage

• Founded In: 2014
• Founders: Inderveer Singh, Pulkit Srivastava, Harnoor Kaur
• Funding Raised To Date: $28 Mn
• Investors: RedBlue Capital
• Headquarters: Chandigarh

EVage offers commercialized solutions for sustainable mobility. It plans to proviso electrical commercialized vehicles to the transportation fleets of logistics companies. 

Recently, Evage raised $28 Mn successful a effect backing circular from RedBlue Capital. Its archetypal model, X, is simply a one-tonne motortruck built for the commercialized transportation market.

The startup claims to beryllium the supplier to Amazon India’s transportation partners. 

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21. Evera

• Founded In: 2019
• Founders: Nimish Trivedi, Vikas Bansal, Rajeev Tiwari
• Funding Raised To Date: $7 Mn
• Investors: Westova Capital, Devonshire Capital, IEG – Investment Banking Group
• Headquarters: New Delhi

Evera is simply a New Delhi-based electrical cab services supplier that operates successful some B2B and B2C verticals. Founded successful 2019, the startup claims to person taken much than 40,000 rides, with a web of 43 charging stations successful the nationalist superior region. Its genitor entity is Prakriti E-Mobility.

Unlike galore ride-hailing companies, Evera employs full-time drivers alternatively than moving with gig workers. The startup says the drivers can’t cancel rides since they’re paid by the startup.

In aboriginal 2023, Evera raised $7 Mn successful aggregate tranches arsenic portion of its Pre-Series A backing round, led by IEG Investment Banking Group, Direct Capital, and Westova Global.

Evera competes straight with BluSmart, which raised $42 Mn successful May 2023.

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22. Exponent Energy

• Founded In: 2020 
• Founders: Arun Vinayak, Sanjay Byalal
• Funding Raised To Date: $18 Mn 
• Investors: YourNest VC, 3one4 Capital, AdvantEdge VC, Motherson Group, Rajesh Yabaji, Pushkar Singh
• Headquarters: Bengaluru 

Exponent Energy offers vigor solutions to EV owners. The startup claims that its lithium-ion artillery and charger combo tin complaint EVs up to 100% wrong 15 minutes.  

In December 2021, the EV startup raised $5 Mn successful a Pre Series A backing circular led by existing capitalist YourNest VC. The circular saw information from different investors including 3one4 Capital, AdvantEdge VC and Motherson Group. 

As per an Inc42 report, it besides raised an undisclosed investment successful September 2021 from investors including YourNest, 3one4 Capital, AdvantEdge, BlackBuck’s Rajesh Yabaji, and LetsTransport’s Pushkar Singh among others.

Before launching Exponent Energy, its cofounder Arun Vinayak worked with Ather Energy for 7 years, portion the different cofounder Sanjay Byalal had earlier worked with Ather Energy arsenic good arsenic HUL.

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23. Fresh Bus

• Founded In: 2022
• Founders: Sudhakar Reddy Chirra
• Funding Raised To Date: $3.1 Mn
• Investors: ixigo
• Headquarters: Bengaluru

Founded by erstwhile AbhiBus laminitis Sudhakar Reddy Chirra, Fresh Bus is an electrical autobus (ebus) level that operates successful the intercity autobus question market.

The startup, backed by traveltech large ixigo, launched its ebus service successful aboriginal 2023 by unveiling its archetypal way betwixt Bengaluru and Tirupati successful Andhra Pradesh. Currently, the autobus work is besides functional connected the Hyderabad-Vijaywada way portion the startup plans to commencement its intercity ebus work connected newer routes similar Bengaluru-Chennai, Mumbai-Ahmedabad, and Goa-Pune.

Fleet relation Fresh Bus has collaborated with EV shaper Olectra to procure its buses. 

In the increasing ebus market, Fresh Bus competes with NueGo, Zingbus, and different large intercity autobus platforms successful the market. The startup has besides built its ain charging presumption network.

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24. Fyn Mobility

• Founded In: 2013
• Founders: Visakh Sasikumar
• Funding Raised To Date: $2.4 Mn 
• Investors: Eagle10 Ventures, Bluehill Capital, Sattva Group, Nanavati family, Sincere Syndication, Conscience Multi-Family Office, GAIL (India) Ltd,  Arshad Sayyad, Vijay Ratnaparke, Shaji Koshy and IITM Research Park’s Ashok Jhunjhunwala, among others.
• Headquarters: Bengaluru

Fyn Mobility, which was earlier known arsenic Pi Beam, offers micro-mobility EV solutions and information analytics services for the EV ecosystem. Its merchandise portfolio includes PIMO Utility two-wheeler, E-Trike, E-Kart, and E-Auto.  

In March 2022, Fyn reportedly raised $1.7 Mn successful a Pre-Series A circular led by Inflection Point Ventures. 

The circular saw information from investors including Sattva Group and Nanavati family, Sincere Syndication and Conscience Multi-Family Office, and angel investors Fidelity Investments’ Arshad Sayyad, Robert Bosch’s Vijay Ratnaparke, Royal Enfield’s Shaji Koshy and IITM Research Park’s Ashok Jhunjhunwala, among others.

Prior to this, the EV startup raised $705K successful a span backing circular from GAIL (India) Ltd. Currently, it has a beingness successful Bengaluru and Chennai. It plans to adhd 2,000 EVs by FY23. 

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25. goEgoNetwork

• Founded In: 2021
• Founders: Sayantan Chakraborti, Dheeman Kadam, Pravin Kumar 
• Funding Raised To Date: $2 Mn
• Investors: Olivier Guillaumond, Rishi Bagla
• Headquarters: Pune

goEgoNetwork offers vigor solutions to customers. With its goME app, EV owners tin find the nearest charging stations and usage them. 

In August 2021, goEgoNetwork raised $2 Mn (nearly INR 15 Cr) successful effect backing to grow its existing electrical charging network. The circular saw information from Bagla Group’s Rishi Bagla and Global Innovation Labs’ Olivier Guillaumond.

In 2021, goEgoNetwork is reported to person partnered with TVS Motor to beforehand EV infra successful Himachal Pradesh. Following this, it acceptable up an EV charging installation astatine Kaza successful Spiti Valley to cater to the needs of EV scooters and cars successful the region.

The EV startup has got certifications from assorted authorities bodies including ARAI and OCA.

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26. Grinntech 

• Founded In: 2013
• Founders: Nikhilesh Mishra, Puneet Jain
• Funding Raised To Date: $2 Mn  
• Investors: V Sumantran, Lakshmi Narayan, KS Manian
• Headquarters: Chennai

Grinntech offers vigor retention solutions to customers. It claims to supply an array of lithium-ion batteries specified arsenic IC Engine starter batteries, e-cycle and robotics batteries, two-wheeler batteries, three-wheeler batteries, tiny commercialized conveyance batteries, airy commercialized conveyance batteries, and MHCV batteries, among others.

In 2020, Grinntech raised $2 Mn successful an angel backing round. The circular saw information from investors including Ashok Leyland’s V Sumantran, Cognizant’s Lakshmi Narayan, and NAPC’s KS Manian. During the aforesaid year, the startup besides graduated from the IIT Madras Incubation Cell.

In 2020, Grinntech inked an MoU with the Tamil Nadu authorities involving an concern of INR 100 Cr. In the pursuing year, it established a manufacturing installation successful Chennai that tin conscionable the request of up to 400 MWh.

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27. Kabira Mobility

• Founded In: 2019
• Founders: Jaibir Siwach, Akash Siwach, and Sagar Siwach
• Funding Raised To Date: $52 Mn
• Investors: Al-Abdulla Group, Classic Group
• Headquarters: Goa

Kabira Mobility is simply a Goa-based electrical motorcycle manufacturer, which started a fledged income of its ebikes successful April 2022. It targets young motorcycle enthusiasts. 

The startup has truthful acold launched 2 models of its flagship bikes – KM3000 and KM4000. While its KM3000 motorcycle exemplary comes with a 4.14 kWh artillery capableness and a scope of 120 km per charge, the KM4000 exemplary has a artillery capableness of 4.60 kWh and offers a scope of 150 km. 

Kabira Mobility besides has plans to motorboat pro variants of its KM3000 and KM4000 models this year. Next year, the ebike startup is expected to motorboat a caller exemplary – KM5000 – successful the cruiser motorcycle category.

Earlier this year, the startup raised $50 Mn (around INR 412 Cr) successful its Series A backing circular Qatar-based Al-Abdulla Group, taking its full backing received to INR 430 Cr.

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28. Kazam EV

• Founded In: 2020 
• Founders: Akshay Shekhar, Vaibhav Tyagi
• Funding Raised To Date: $4.53 Mn
• Investors: Inflection Point Ventures, We Founder Circle 
• Headquarters: Bengaluru

Kazam EV offers bundle solutions for vigor infrastructure. Besides aligning with its ain charging stations, the startup’s bundle supports charging stations of different EV companies arsenic well. It additionally helps micro-entrepreneurs gain wealth by mounting up charging stations successful their parking areas. 

In 2021, Kazam raised INR 7 Cr ($0.93 Mn) successful a effect circular led by Inflection Point Ventures. Besides, it raised an undisclosed magnitude of concern from We Founder Circle. Earlier successful May 2023, the startup picked up $3.6 Mn successful a circular led by Avaana Climate Fund.

As per its website, Kazam has acceptable up implicit 7,000 charging stations successful India. It has a beingness successful Karnataka, Maharashtra, Delhi-NCR, Telangana and Tamil Nadu. Its products are fundamentally utilised by EV OEMs, EV fleet operators and micro-entrepreneurs.

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29. Lithium Urban Technologies

• Founded In: 2014
• Founders: Sanjay Krishnan
• Funding Raised To Date: $58 Mn
• Investors: IFC, EverSource Capital 
• Headquarters: Bengaluru 

Lithium Urban offers sustainability solutions and charging infrastructure to concern organisations. The startup fundamentally offers transport work done its fleet of EVs and associated charging stations.

As per its website, the startup is certified by ISO for implementing guidance connected societal responsibility. It presently has a fleet size of 2,000 vehicles and operates successful implicit 15 cities, including Bengaluru, NCR, Hyderabad, Pune, Chennai and Mumbai. 

Through its tech stack, the startup claims to present 2X productivity, trim c footprint and chopped down proscription costs by 40%. As per Tofler, its gross from operations stood astatine INR 53.6 Cr successful FY20 arsenic against INR 41.8 Cr successful FY19. However, its nonaccomplishment widened to INR 21.1 Cr successful FY20 arsenic compared to INR 15.3 Cr successful the erstwhile fiscal year. 

A fewer days ago, it reportedly partnered with Tata Motors to deploy 5000 XPRES T Electric Sedans crossed India for worker transportation.

In March 2022, EverSource Capital, which manages India’s largest clime interaction funds, acquired a bulk involvement successful the startup for astir $50 Mn. Prior to this, the startup raised $8 Mn from World Bank’s concern arm, International Finance Corporation (IFC), arsenic an equity investor. It raised further superior from different investors arsenic well. 

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30. Lohum

• Founded In: 2017
• Founders: Rajat Verma, Justin Lemmon, Gazanfar Safvi
• Funding Raised To Date: $20 Mn+
• Investors: Baring Private Equity Partners, Talbros Automotive Components, Stride Ventures
• Headquarters: Noida

Lohum is simply a shaper of lithium-ion artillery earthy materials, which it achieves by recycling, repurposing, and low-carbon refining.

Working successful a closed-loop recycling model, Lohum acquires utilized lithium-ion batteries from electrical vehicles, stationary storage, and user electronics. These batteries are past tested and, if deemed reusable, they are fixed a 2nd life. If the batteries scope their end-of-life, Lohum recycles the artillery materials and sells the resulting metals and chemicals to assorted customers crossed the proviso chain.

Since its inception, the startup has raised implicit $20 Mn successful funding. Lohum precocious said that it has collaborated with insurtech unicorn ACKO to optimise the artillery security and financing costs for the customers.

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31. Magenta Mobility

• Founded In: 2018
• Founders: Maxson Lewis
• Funding Raised To Date: $35 Mn
• Investors: bp Ventures, Morgan Stanley India, JITO Angel Network
• Headquarters: Mumbai

From being a solution supplier successful the EV charging ecosystem, Magenta Mobility has pivoted to becoming an end-to-end integrated emobility solution provider. 

Currently, it operates implicit 1,550 electrical three-wheelers successful the L5 class for last-mile delivery, which it is readying to grow to much than 3,000 vehicles by the extremity of FY24. Magenta Mobility runs its cargo transportation and logistics services successful 9 cities, including Bengaluru, Mysuru, Pune Mumbai, Delhi NCR, and Hyderabad. The startup is not a shaper and sources its three-wheeler EVs from Piaggio, Altigreen Propulsion Labs, Euler Motors, and Mahindra.

In its charging ecosystem, Magenta Mobility manages 39 charging depots to cater to the charging needs of its EV fleet.

Besides, it besides develops bundle exertion to alteration this full emobility ecosystem.

In April 2023, Magenta Mobility raised $22 Mn (about INR 180.6 Cr) successful its Series A1 backing circular from bp Ventures and Morgan Stanley India infrastructure.

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32. Metastable Materials

• Founded In: 2021
• Founders: Shubham Vishvakarma, Saurav Goyal, Manikumar Uppala
• Funding Raised To Date: Undisclosed 
• Investors: Sequoia Capital’s Surge,  Speciale Invest, Theia Ventures, Akshay Singhal, Sanjeev Rangrass
• Headquarters: Bengaluru

Metastable Materials has developed a one-of-its-kind mechanism, a chemical-free integrated carbothermal simplification process, for extracting and recycling materials from lithium-ion batteries successful a much economical and businesslike manner. 

The startup was portion of the eighth cohort of Sequoia’s Surge accelerator program.

In April 2023, the cleantech startup raised an undisclosed magnitude of backing successful its Seed circular from Sequoia Capital’s Surge and different task capitalists similar Speciale Invest and Theia Ventures. 

Metastable Materials is present mounting up a 21,000 sq ft artillery recycling installation connected the outskirts of Bengaluru.

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33. MoEVing

• Founded In: 2021
• Founders: Mragank Jain, Vikash Mishra
• Funding Raised To Date:  $10 Mn 
• Investors:  D.S. Brar, Anshuman Maheshwary, Srihari Raju Kalidindi, Ashish Goel, Krishnadeva Veerareddy, BeyondTeq, GCC household offices, Strides One, TradeCred, N+1 Capital, and Nitish Mittersain
• Headquarters: Gurugram

MoEVing offers intra-city last-mile transportation solutions, vigor infrastructure and fintech solutions. It provides transportation services to companies operating successful ecommerce, e-grocery, FMCG, logistics and D2C. Besides, it besides works on with OEMs, drivers and fiscal institutions to code the problems of EV owners erstwhile they follow EVs.

In May, the EV startup secured $5 Mn done equity and indebtedness financing successful its ongoing effect backing round. Investors similar BeyondTeq, GCC household offices, Strides One, TradeCred, N+1 Capital, and Nitish Mittersain from Nazara Technologies participated successful the round. 

MoEving has a beingness successful 10 cities successful India including Delhi-NCR, Pune, Mumbai, Chandigarh, Bengaluru, Hyderabad and Kolkata. It aims to adhd 10,000 EVs and 100 charging hubs successful 30 cities by 2023. 

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34. Motovolt Mobility

• Founded In: 2018
• Founders: Tushar Choudhary 
• Funding Raised To Date: $1.9 Mn 
• Investors: Wami Capital, PPAP Automotive, Vikrampati Singhania, Ankur Agarwal, Vikas Bagaria
• Headquarters: Kolkata

Motovolt offers sustainable mobility solutions to consumers. Some of its electrical bikes are URBN e-Bike, Kivo Easy, Ice, and Kivo 24. 

Recently, the startup besides launched an electrical motorcycle called URBN for its consumers. The caller electrical motorcycle has removable duplicate batteries, weighing astir 10 kg each.

In November past year, it bagged $1.9 Mn successful Pre-Series A backing round led by Wami Capital. Earlier, it had shared plans to put INR 200 Cr into its concern (in 2023) to heighten merchandise offerings and grow its installation arsenic good arsenic income network. It claims to person much than 100 POS crossed the country.

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35. Oben Electric

• Founded In: 2020
• Founders: Madhumita Agrawal, Dinkar Agarwal, and Sagar Thakkar
• Funding Raised To Date: $10.7 Mn
• Investors: Stride Ventures, Indian Renewable Energy Development Agency, Mumbai Angels, We Founder Circle
• Headquarters: Bengaluru

Currently, the electrical two-wheeler marketplace is predominantly dominated by escooter manufacturers. However, the electrical motorcycle assemblage is comparatively limited, with lone a fewer companies operating successful this space.

Oben Electric is 1 of those fewer startups that are manufacturing electrical bikes to marque a large displacement successful a marketplace ruled by the stalwarts similar Bajaj Auto, TVS Motor, Hero MotoCorp, and Eicher Motors.

Its flagship electrical motorcycle Oben Rorr comes with a apical velocity of 100 km per hr and a 4.4 kWh artillery capableness that tin afloat complaint successful 2 hours.

In the electrical motorcycle manufacturing space, Oben Electric presently competes with Revolt Motors, Ultraviolette, Matter, Odysse, Hop Electric, Kabira Mobility, and Orxa Energies.

The startup has raised astir $10.7 Mn (over 88 Cr) successful full backing truthful far. In its extended Pre-Series A backing round, it raised $4.88 Mn (INR 72 Cr) successful June 2023.

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36. Odysse Electric

• Founded In: 2020
• Founders: Nemin Vora
• Funding Raised To Date: Bootstrapped
• Investors: NA
• Headquarters: Mumbai

Electric mobility startup Odysse is simply a portion of the Vora radical of companies that has a immense enactment of businesses with a superior absorption connected automobile-based products. As a two-wheeler EV manufacturer, Odysse makes some electrical scooters and motorcycles.

In the motorcycle category, the startup has 2 models – Evoqis and Vader. In the escooter category, Odysse’s main two-wheeler models are E2go, Hawk, and V2.

Odysse besides manufactures a last-mile transportation escooter electrical scooter, TROT.

Hence, the startup competes with the large players crossed the EV two-wheeler market, including Revolt, Oben Electric, Ola Electric, TVS Motor, Hero Electric arsenic good arsenic the likes of Yulu.

The institution has acceptable up its EV manufacturing installation successful Ahmedabad, Gujarat.

In July 2023, Odysse announced a strategical concern with Flipkart to assistance customers pre-book and acquisition Odysse’s EVs much seamlessly from the marketplace.

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37. Ohm Mobility

• Founded In: 2020
• Founders: Nikhil Nair
• Funding Raised To Date: $400K
• Investors: Antler India, Blume Founders Fund, Catalyst Fund, Kunal Shah
• Headquarters: Bangalore

Ohm Mobility is an end-to-end EV-focussed financing platform, which aims to assistance EV players to get easier entree to organization superior portion enabling lenders to discover, verify, and deploy superior to EV companies. It is gathering a exertion level to link EV buyers with superior providers.

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